25 Jan 2023 14:25

Uzbekneftegaz, Petronas to prepare program for supplies of Turkmen oil to Uzbekistan

MOSCOW. Jan 25 (Interfax) - Uzbekneftegaz and Petronas Carigali (Turkmenistan) Sdn Bhd, a subsidiary of Malaysia's Petronas, have discussed the prospects for cooperation between Bukhara Oil Refinery and production facilities of the Turkmen company.

Particular attention was given to the possibility of arranging long-term cooperation in imports of oil to the refinery, Uzbekneftegaz said in a statement.

The parties reached an agreement to jointly prepare a program of oil supplies from Turkmenistan to Uzbekistan in 2023 as a result of the talks.

Petronas Carigali is one of the operators producing oil and gas on the Turkmen shelf of the Caspian Sea. The company produces hydrocarbons at the Garagol Deniz West field in Block 1 of the Turkmen sector of the Caspian Sea.

The Bukhara Oil Refinery has a capacity of 2.5 million tonnes per year.

Uzbekneftegaz is the exclusive operator of Uzbekistan's oil and gas industry, whose capacity is able to guarantee production of approximately 70 billion cubic meters of gas and 8 million tonnes of liquid hydrocarbons per year, but production is falling due to depleted reserves and processing losses. Uzbekistan produced 116,000 tonnes of oil and 1.4 million tonnes of gas condensate in 2021.